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question 19

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Definitions:

Costly Activities

Actions or processes that require a significant amount of resources, such as time, money, or effort.

Retailers

Businesses or individuals that sell goods directly to consumers.

Double Marginalization

A situation where both the upstream and downstream firms in a supply chain exert market power, leading to higher prices for consumers.

Directly to Consumer

A business model where companies sell their products directly to consumers, bypassing traditional retailers, wholesalers, or other middlemen.

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